Description

Version 1.05 – 2021

REALPAC is pleased to release its updated REALPAC Office Green Lease: National Standard Lease for Single-Building Projects 1.05 – 2021.

In 2008, REALPAC was the first organization to publicly release a green lease standard in North America. Since its initial release, REALPAC has released multiple updates to its green lease standard based on new industry trends and best practices.

Changes made to version 1.05 – 2021 include:

  • Health emergencies and pandemic responsiveness
  • Densification
  • Update of “Environmental Management Plan” to “Sustainability Management Plan”
  • Updated green building and health & well-being standards referenced
  • Net zero carbon
  • Resiliency

Users are welcome to use and modify the REALPAC Office Green Lease: National Standard Lease for Single-Building Projects 1.05 – 2021 for their own leasing practices, in accordance with REALPAC’s Fair Use Policy as stated in the lease. While the application of this Lease is intended for office projects, the sustainability elements of the lease are also transposable with appropriate modifications to other asset classes.

REALPAC thanks Melissa McBain, Partner, Daoust Vukovich LLP for leading the legal update of this document. REALPAC also thanks its members who provided feedback in the revision process.